Kenny Dalglish is waiting to discover whether his second Liverpool reign is over having failed to receive assurances over his future from Fenway Sports Group during face-to-face talks in Boston.

Dalglish arrived back in England on Tuesday morning following a meeting with the principal owner, John W Henry, and the chairman, Tom Werner, in the United States at which he delivered his end-of-season review and outlined his strategy for much-needed improvement next season. The Liverpool manager instigated Monday's talks in response to the uncertainty that has surrounded his position since defeat in the FA Cup final on 5 May.

FSG, however, is continuing to assess Liverpool's poor eighth‑place finish in the Premier League and the prospects of Dalglish and Steve Clarke, the assistant manager who accompanied his fellow Scot to Boston, returning Champions League football to Anfield. Contrary to the fevered speculation surrounding Dalglish's brief trip, the Liverpool manager was not sacked and did not offer to resign.

But as Dalglish prepares to go on holiday on Wednesday, it is in the knowledge that the meeting with Henry and Werner, his explanation for Liverpool's lowest league finish for 18 years and insistence that a major summer overhaul is unnecessary has not resolved the critical issue of whether he will remain as manager next season. FSG has refused to give assurances on Dalglish's future since the FA Cup final and the lack of them during direct talks with the Liverpool manager demonstrates the extent of the owners' reservations over the progress of his squad.

Henry stated at the start of the season that it would be "a major disappointment" should Liverpool fail to finish in the top four after a £120m investment in new players. Dalglish's team did not mount a challenge for the Champions League places, although they did win the Carling Cup, Liverpool's first trophy for six years, and reach the FA Cup final, and next season will be the club's third consecutive campaign outside the European elite. The agent of Martin Skrtel, Liverpool's player of the year, has claimed the Slovakian defender is concerned at the lack of Champions League football as he considers his options with two years remaining on his current contract.

Dalglish remains in limbo despite attempting to clarify FSG's position by travelling to the United States. The Liverpool manager has identified several transfer targets for the summer but, without confirmation that his job is safe, the club would struggle to proceed in securing their signatures in the absence of a director of football or chief executive at Anfield. Dalglish does not negotiate transfer deals or contracts as the Liverpool manager.

FSG sacked Damien Comolli as director of football 48 hours before the FA Cup semi-final against Everton on the basis they needed to appoint a replacement as quickly as possible. Almost five weeks on, and two weeks before the transfer window officially reopens, the position remains vacant. The owners have also parted company with Liverpool's head of sports science, Dr Peter Brukner, and head of communications, Ian Cotton, in recent weeks. In addition there has been no decision on whether to rebuild Anfield or proceed with a new stadium on Stanley Park since FSG replaced Tom Hicks and George Gillett as owners in October 2010.

Dalglish was handed a three-year contract when he replaced Roy Hodgson on a permanent basis 12 months ago and his departure would increase the vacuum at Liverpool, plus increase the pressure on FSG to appoint a proven successor to an Anfield legend who retains widespread support among the club's fanbase.

The Liverpool manager responded to the uncertainty over his future by launching a staunch defence of his second tenure during his final pre-match press conference of the season on Friday. Dalglish cited the Carling Cup, Europa League qualification and the dramatic improvement since returning in January 2011 with Liverpool languishing four points above the relegation zone as evidence of progress. But he has received no indication from Henry or Werner that they share that assessment.